advantage and disadvantage of bein self-employment

Instead of working for other businesses, a large number of people are turning to self-employment these days. This essay will explore what might be behind this trend and outline two of the drawbacks that working for yourself can bring. One of the most significant reasons why many individuals are deciding to go self-employed could be that there are now fewer barriers to this form of employment than there were in the past. Due to the technological advancements introduced by the modern age, people can now set up their own businesses more easily. For instance, whereas thirty years ago self-employed tutors would have to rent classrooms, pay for equipment and share teaching materials in person, now they have an internet connection. However, running your own business can present a number of difficulties, chief among them financial insecurity. In contrast to employment within a company, in which a regular paycheck can be expected on the same day each month, self-employment does not guarantee a fixed salary and can rely instead on a feast-or-famine type of income. Moreover, those who work for themselves cannot typically enjoy company perks, such as health insurance, holiday time, and pension schemes. This can exacerbate the sense of financial anxiety which some self-employed people must face. In conclusion, although the internet has helped many people to enter self-employment, this type of work still carries disadvantages, including economic uncertainty and the absence of benefits packages.